Atlantis has expanded its portfolio of advanced-stage projects through its latest deal with ScottishPower Renewables’ (SPR) and the developer is to soon complete the flagship MeyGen 1a plant and close financing on the Sound of Islay project.

Orkney based Scotrenewables Tidal Power Ltd (SRTP) is in the final phases of developing the world’s largest tidal turbine. The new floating technology is set to reduce raw material costs, tap into higher current speeds and benefit from installation and operations savings.

Manx Tidal Energy has used cost efficient R&D processes and equity backing from parent trust fund Derillion to bolster its bankability in a tidal market where projects have struggled to attract private investors to build commercial arrays.

The UK government’s changes to Climate Change Levy rules are set to have limited impact on the emerging tidal sector and falling costs along with export potential will position tidal projects favourably against more mature technologies.

The Government of Nova Scotia, Canada, is looking at installing some 300 MW of tidal power capacity from around 2020, Chris Campbell, Senior Advisor to industry association Marine Renewables Canada, said.

“OpenHydro plans to achieve an industry first in 2015 by delivering two of the world’s first grid connected tidal arrays in France and Canada,” James Ives, CEO of OpenHydro, a tidal stream turbine manufacturer, said.

Following a six month downward share price trend for Atlantis Resources, the tidal power developer saw its share price rise, following the announcement that its existing turbine design contract with Lockheed Martin had extended to a multi-million dollar construction contract.